If you need some extra money, then borrowing from your bank might be the answer. If you use a bank simply for savings and a current account, then perhaps it is time to look at other financial products that your bank can offer. If you want to borrow from your bank, here are some of the possible options and benefits.

Why borrow money?

People borrow money for all sorts of reasons, and in all different ways. If you are finding it hard to make ends meet at the moment then getting a credit card or loan may help you out over the next few months. Also, if you need to make a large purchase but you need to spread the cost, then borrowing from your bank is a good option.

Credit cards

Perhaps the most common way to borrow from your bank is to get a credit card. A credit card gives you a certain amount of money or credit that you can spend, which you have to pay back with interest. Bills are paid monthly and you can choose to pay the full amount or just the minimum payment each month. Borrowing money on a credit card is expensive, but for short-term purchases they can be great if you pay the balance back in full each month.

Loans

Loans are another common way to borrow from your bank. Your bank is likely to have a variety of loans on offer, ranging from small personal loans to much larger loans for business or home improvements. If you need to pay off high interest debts or make a large purchase and pay it back slowly, then loans might be the right option for you.

Advantages of using your bank

The main advantage of using your bank to borrow money is that they know what sort of spending patterns you have, and if you have built a rapport with them they are likely to be more generous than other lending institutions. It may also be convenient to use the same bank that you do now, as all your accounts are in one place and you can manage your money more easily.

Disadvantages

There are also a number of disadvantages to using your own bank. Although your bank may give you a good deal, it may not be the best deal you can possibly find. Although speaking to your own bank is a good idea, you should shop around and look at other lenders in order to get the best possible terms. You should also make sure that borrowing money is right for you, and that you can make any repayments that are required.

ABN AMRO Bank is a leading Private sector bank in India.ABN AMRO Bank offers various Banking Products in India,Here we compile the information about ABN AMRO Bank for your Guidance.
ABN AMRO Bank India started functioning in 1991 in Delhi and till date it has branches in Chennai, Pune, Baroda, Hyderabad, Bangalore and Noida servicing multiproduct relationship with customers.
The services of Abn Amro Bank is organised globally in three business lines:* Wholesale Clients
* Consumer & Commercial Clients
* Private Clients & Asset Management

ABN AMRO Bank in India enjoys a strong image as a corporate bank with comprehensive Global Transaction Services. The investment banking services of the bank is delivered through ABN AMRO (India) Corporate Finance and the Global Financial Market Teams which strive to maintain the permanent position in the marketplace.

ABN AMRO India Bank has launched its Private Banking Services in the country offering a comprehensive range of high quality Portfolio Advisory Services along with a comprehensive transaction execution platform, complemented by personalised Banking and custodial services.

It has also launched its microfinance program. The program is aimed at delivering credit to the poor women of India, especially in the rural areas, through Microfinance Institutions (MFIs).

The mission of ABN AMRO Bank
“The mission of ABN AMRO Bank is to create maximum economic value for our shareholders through a constant relationship focus on the financial services needs of our chosen client segments and a strict adherence to our financial targets. We are operating in three principal customer segments, whereby the objective is to maximise the value of each of these businesses as well as the synergies between them. Excellence of service to our clients and leadership in our chosen markets are of paramount importance to our long-term success. The Bank’s corporate values play an integral role in the fulfilment of our mission.”

The Achievements of ABN AMRO Bank

* “Best at Cash Management Award in September 2001″ – The Banker

* Corporate Finance India : Ranked Second in M&A in the Investment Banking arena in 2001 – Economic Times.

* ABN AMRO Securities India : Best Foreign Bond House; No 1 Arranger in Private Sector: Euromoney 2000.

* Top Bank on “Management Quality” parameter: Business India ‘Best Banks Survey 2000′.

* 7th Most Admired Commercial Bank in the World: Fortune Magazine, 2000.

* Top Foreign Bank in India: Economic Times – CMIE survey 1999.

* Second overall in Banking Industry: Financial Express – BRIS survey 1999.
ABN AMRO Bank Offices

Head Office:
Amsterdam, The Netherlands

Consumer Clients:
ABN AMRO Bank N.V.
Hansalaya Building
15, Barakhamba Road
New Delhi 110001
Telephone: +91 11 2370 2555
E-mail: in.marketing@in.abnamro.com

Commercial Clients:
ABN AMRO Bank N.V.
DLF Centre
Sansad Marg
New Delhi 110001
Telephone: 91 11 2375 5130
E-mail: in.marketing@in.abnamro.com

Wholesale Clients:
ABN AMRO Bank N.V.
Sakhar Bhavan, 4th floor
Nariman Point
Mumbai 400 021
Telephone: +91 22 56372401
E-mail: in.marketing@in.abnamro.com

Private Clients:
ABN AMRO Bank N.V.
Sakhar Bhavan
Nariman Point
Mumbai 400 021
Telephone: +91 22 2281 8008 Ext. 2025 to 2029
E-mail: in.marketing@in.abnamro.com

Asset Management:
ABN AMRO Asset Management (India) Ltd.
101, Sakhar Bhavan, 10th floor
Nariman Point
Mumbai 400 021
Telephone: +91 22 5656 3841
Internet: www.asset.abnamro.com

Abn Amro India Website
www.abnamro.co.in

The Information about ABN AMRO Personal Loan is given here for your Guidance

* ABN AMRO Personal Loans : you can take this loan for purchase of assets and consumer durables, home improvements, tax saving investments, higher education, holidays and travel, emergency medical needs etc.
This loan is like an unsecured loan.
* You may also avail of our “Balance Transfer Program” to retire any high cost loans that you may have taken, including your credit card dues by simply opting for an ABN AMRO Personal Loan.
*  No hidden charges : ABN AMRO Personal Loan come to you with minimum formalities, at attractive interest rates and only a one time non-refundable processing fee.
If you are an existing ABN AMRO customer, you could be eligible for special discounts on the interest rates and simplified application formalities under ABN AMRO’s “Relationship Rewards Program”

Eligibility

* A Salaried Individual between 25 and 70 years of age working in the management cadre of companies approved by the Bank from time to time.
* A Self employed Professional (Doctor/CA/Architect etc.) between 25 and 65 years of age.

Interest Rate:

Salaried Individuals     16% – 23%
Relationship Rewards Programs     16% – 22%
Track Record/Special Surrogate Programs     18% – 26%
Processing fee for Regular Programs     2.25%
Processing Fee for Relationship Reward Programs     2%
Processing Fee for loan amount less than Rs. 100000     Rs. 2000

Fore more Information of this Personal Loan Log on to

http://www.abnamro.co.in